UPS could furlough 300 pilots if cost-savings measures not met

Officials with United Parcel Service Inc. have asked the Independent Pilots Association to find a way to cut costs in order to avoid the furlough of about 300 of the roughly 3,000 pilots who fly for the shipping giant.

To date, the company has frozen management pay raises and has ceased matching employee contributions to the company 401(k) program. It also has consolidated some offices and distribution operations across the United States.